Apple now has more money on hand than the whole U.S. government, a report from Digital Trends note.
The report says that it’s obvious how Apple has become currently richer than the whole U.S. government.
“Apple makes more money than it spends while the US government spends more than it generates in tax revenue,” the publication reports. “In other words, Apple is doing a really good job at running itself, while the federal government is not.”
Last week, Apple reported a stellar performance for its fiscal third quarter reporting a revenue of $28.6 billion which is nearly double its $15.7-billion revenue for the same quarter last fiscal year.
The company also reported a net profit of $7.31 billion, or $7.79 per share in contrast to $3.25 billion, or $3.51 per share for the same period last year.
Net profit for the company more than doubled for the just-ended quarter. Apple shares also recently breached the $400 mark.